Report
Stephane Beyazian

Vodafone : Q1 2025: weak on the commercial front but better from a financial viewpoint

>Q1 2025: EBITDAaL better than expected - Vodafone has published part of its results for Q1 2025. Revenue was up 2.8% y-o-y to € 9,036m, in line with forecasts (consensus and ODDO BHF € 9.0bn). EBITDAal was up 2.1% to € 2,681m (~5% above Visible Alpha forecasts) and 5% pro forma of the divestment of activities in Spain and Italy.The targets for 2025 have been confirmed (as expected): Vodafone is targeting adjusted pro forma EBITDAaL of € 11bn and adjusted FCF of ...
Underlying
Vodafone Group Plc

Vodafone Group provides mobile and fixed telecommunication services including: access charges, voice and video calls, messaging, interconnect fees, fixed and mobile broadband and related services such as providing televisual and music content, connection fees and equipment sales. Co. provides a range of consumer products and services including mobile, fixed voice, broadband and television, financial as well as other services to operators outside its footprint. Co. also provides a range of enterprise products and services including total communications such as mobile, fixed and a suite of converged communications services, internet of things, cloud and hosting and carrier services.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Beyazian

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